AP: Grand T G Gold (08299) to raise $80M from placing
(Infocast News) Grand T G Gold (08299) has agreed to place 792.096 million shares, representing 6.51% of its enlarged issued share capital, to Success Asia Investment at $0.101 per share, raising $80 million.
The company intends to apply the net proceeds of $79.8 million as general working capital and for the existing projects which shall include the construction of a new gold production plant, and for development of its gold business or any other new investment projects which may be identified from time to time.
The placing price per share represents 5.61% discount over Grand T G Gold's closing price of $0.107 yesterday.
